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>> guest: well, my core metaphor in describing the economy and the interaction of economy and society's rain forest. when we go to the rainforest or whether it's the pacific northwest or amazon, you have the sense of life all around you. that's what human society is. a rainforest is a self-regulating environment. when we put regulations and, without government regulation same. that's also part of self-regulation. we create rules for ourselves. that is self-regulation. we regulate each other through competition. the main thing that keeps the rainforest site rent is that you have the canopy which in the u.s. economy be the big firms, ge, gm, wal-mart, all that. then he got the small business. but it's the small and growing permit the things that were small but can challenge the big and it's what happens in the big tree falls over. new trees to read out of it, right out of the old tree. it is a metaphor, but it's real. when we lose something in the economy, it's vital we reconfigure resources and create something new out of it. so do we need control? we need feedback. we need the capabilit
>> guest: well, my core metaphor in describing the economy and the interaction of economy and society's rain forest. when we go to the rainforest or whether it's the pacific northwest or amazon, you have the sense of life all around you. that's what human society is. a rainforest is a self-regulating environment. when we put regulations and, without government regulation same. that's also part of self-regulation. we create rules for ourselves. that is self-regulation. we regulate each...
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there's plenty of ways to make money, even in an obama economy. we have all the information you need to rake it in, even when they say it's not, it's always about money. ♪ >> starting off, oil and energy, hosting money from houston, i sat down for an exclusive one-and-one with the ceo and co-founder of ki in, -- kinder morgan. we focus on the future of the energy business and natural gas. this is what he said. >> we need to have a level playing field. we need to have, in the energy field, for example, we have just tremendous opportunities, particularly in the natural gas area. we got a game changer here. we got a fuel that's cheap, abundant, domestic, plentiful.g we ought to be doing everythingp we canlo to exploit that. melissa: fracking for natural gas?oded >> natural gas in general.e the shale place, which, of course, predicated to fracking, but the opportunities forrtun natural gas, you want to talk about response to climate change and reducing co2 emissions, thio is the golden key to open the door more than most renewables will ever be beca
there's plenty of ways to make money, even in an obama economy. we have all the information you need to rake it in, even when they say it's not, it's always about money. ♪ >> starting off, oil and energy, hosting money from houston, i sat down for an exclusive one-and-one with the ceo and co-founder of ki in, -- kinder morgan. we focus on the future of the energy business and natural gas. this is what he said. >> we need to have a level playing field. we need to have, in the...
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our economy create jobs. it's to move the country forward economically. >> right now our economy is still recovering from a very deep and damaging crisis. our top priority is jobs and growth. >> when it comes to the great economic challenges of the moment, saying you want a balanced approach is not a plan. saying people need to pay their fair share isn't a plan. >> the four years of the obama administration, economic policies, they are clearly anti-business, anti-entrepreneur. they are anti-job creation. >> greta: so what about the next four years? as we stare down the fiscal cliff, are your taxes going up? well, what about those taxes? >> they are going up definitely for higher income americans. if you are in the middle-class, i think it's safe to say that taxes will not go up because politicians on both sides. president, democrats and republicans are not going to allow that to happen. >> greta: unless they put a cap on deductions which is sneaky way they raise war taxes. so tax rates don't change but they g
our economy create jobs. it's to move the country forward economically. >> right now our economy is still recovering from a very deep and damaging crisis. our top priority is jobs and growth. >> when it comes to the great economic challenges of the moment, saying you want a balanced approach is not a plan. saying people need to pay their fair share isn't a plan. >> the four years of the obama administration, economic policies, they are clearly anti-business, anti-entrepreneur....
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differences of opinion between the major economies. to. the man who never backs away from controversy the kaiser report is next here nutty . oh max times are welcome to the kaiser report. who knows what evil lurks in the heart of the global financial system the shadow knows yes the shadow has the power to cloud men's minds so they cannot see the shadow stacie back sky is there i am looking like a shadow today in honor of the shadow banking system the shadow banking grows to sixty seven trillion dollar industry regulators say the regulators are the financial stability board and they say it's six trillion dollars more than they thought it was only a week or two ago but i have a parallel universe you have the global economy then you have it kind of a death star that circles the globe run by banks there's fraudsters kleptocrats who prey on the poor things with their shadow derivatives and shadow banking system and they commit all manner of fraud is totally unregulated and the shadow banking system as just being is the non shadow banking system
differences of opinion between the major economies. to. the man who never backs away from controversy the kaiser report is next here nutty . oh max times are welcome to the kaiser report. who knows what evil lurks in the heart of the global financial system the shadow knows yes the shadow has the power to cloud men's minds so they cannot see the shadow stacie back sky is there i am looking like a shadow today in honor of the shadow banking system the shadow banking grows to sixty seven trillion...
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britain had the best and most transparent economy on earth. 15 years on, being difficult a stronger than ever. >> in the decades after world war two, hundreds of native american children were taken from their communities and given the families of foster care. they are helping those affected deal with the trauma. >> in the reservations, we were surrounded by water. we did not have power, we did not have sewer, and we lived in a lot of poverty. two station wagons pulled up and put us girls in the station wagon and drove away with us. i do not remember having been in the car before. i was taken into custody and put into a white foster homes. we thought we would survive better. >> the idea was to help them assimilate into the white culture. the indian child love her act was passed in 1978 because there was a recognition that india children were removed from their homes at a much higher rate than other children. even with that being passed, it did not have a lot of power to really change some of the practices. >> i remember the state coming in and taking us, they did not tell us where they we
britain had the best and most transparent economy on earth. 15 years on, being difficult a stronger than ever. >> in the decades after world war two, hundreds of native american children were taken from their communities and given the families of foster care. they are helping those affected deal with the trauma. >> in the reservations, we were surrounded by water. we did not have power, we did not have sewer, and we lived in a lot of poverty. two station wagons pulled up and put us...
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for the economy has grown four percent with an unemployment rate just above five percent china to third place with official state debt levels about twenty percent of g.d.p. jacob now from morgan stanley believes russia isn't a good position when compared to the developed world. around the world in the developed markets you have budget deficits of five to ten percent in most countries and you have g.d.p. ratios at seventy eighty ninety percent of g.d.p. and even higher in russia you have. under ten and the government has about twenty five percent of g.d.p. so from the all from. creditor to the rest of the world and it's running a surplus at the moment so russia looks in a much better position from a budget point of view the nearly everywhere else in the world. that cyclical those markets and u.s. stocks rose in five days shortened dollars a session with encouraging economic data from germany and china helping to boost the mood as well those american consumers heading to the stalls to take advantage of black friday sales european stocks and second week gains are francs to german business
for the economy has grown four percent with an unemployment rate just above five percent china to third place with official state debt levels about twenty percent of g.d.p. jacob now from morgan stanley believes russia isn't a good position when compared to the developed world. around the world in the developed markets you have budget deficits of five to ten percent in most countries and you have g.d.p. ratios at seventy eighty ninety percent of g.d.p. and even higher in russia you have. under...
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economy the i won't i mean that's all j.p. morgan is they have a negative net worth of hundreds of billions of dollars it's all the federal reserve and all the careful about auditing the federal reserve is when they open the vault to say oh as our money they're going to find a printer when they open up for knox the same words or gold are going to find a purchaser over there lloyd blankfein j.p. morgan's last goldman sachs they open up of all this only i was a printer used to be nothing but a printer it's amazing that the company that makes printers hewlett packard's doing so poorly considering the only thing that any of these companies competence was a printer this is amazing the even the printer company is going out of business because of too much printing the h.p. deal you know with autonomy a perfect example even larry ellison or over oracle when the deal is going down said this is a fraud you know it's an eight billion dollars fraud it was signed off by the accounting firm number accounting firm rating agencies investment
economy the i won't i mean that's all j.p. morgan is they have a negative net worth of hundreds of billions of dollars it's all the federal reserve and all the careful about auditing the federal reserve is when they open the vault to say oh as our money they're going to find a printer when they open up for knox the same words or gold are going to find a purchaser over there lloyd blankfein j.p. morgan's last goldman sachs they open up of all this only i was a printer used to be nothing but a...
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. >>> indonesia is southeast asia's largest economy and it continues to grow. laborers are voicing demands for their own piece of the success. workers around the country are asking for higher pay to cope with the rising cost of living. our bureau in bangkok has the details. >> reporter: thousands of workers took to the streets of jakarta on thursday to demonstrate they oppose low wages and a plan to cover welfare costs. protesters gathered near the presidential palace and marched to the parliament building calling for an increase in the minimum wage. the indonesian economy grew by 6.5% last year, but with that growth comes a higher cost of living. demonstrators carried signs on the 2011 l requiring salary reductions to cover social security and health benefits. the law is expected to go into effect in 2014. but workers say those costs should remain the government's responsibility. similar protests have been recently held in other cities around the country as workers urge the government to protect them. one of the world's most famous traveled denations. now the
. >>> indonesia is southeast asia's largest economy and it continues to grow. laborers are voicing demands for their own piece of the success. workers around the country are asking for higher pay to cope with the rising cost of living. our bureau in bangkok has the details. >> reporter: thousands of workers took to the streets of jakarta on thursday to demonstrate they oppose low wages and a plan to cover welfare costs. protesters gathered near the presidential palace and marched...
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global economy is weak. >> benefit is we are still a great island and so much of the united states economy is dependent upon the united states. so little of our business goes abroad. it's really extraordinary in the modern world how little we do export and how parochial is our scope. europe could have terrible times and europe is indeed having terrible times, but still the states are doing reasonably well. and perhaps the best thing, the worst of housing seems to be behind us. >> we'll get housing data next week, as well. dennis, thanks for that. we appreciate your time this morning. that's it for today. thanks for watching. coming up next, "squawk box." >>> let the shopping begin. an annual tradition beginning even earlier than normal this year. millions of americans skipping pie to hit stores looking for holiday bargains. adventure continuing into the early hours of the morning. it is black friday fishiloffici and "squawk box" begins right now. happy post-thanksgiving. >>> good morning, everybody. welcome to "squawk box." i hope you got your fill of turkey yesterday. i'm becky quick alon
global economy is weak. >> benefit is we are still a great island and so much of the united states economy is dependent upon the united states. so little of our business goes abroad. it's really extraordinary in the modern world how little we do export and how parochial is our scope. europe could have terrible times and europe is indeed having terrible times, but still the states are doing reasonably well. and perhaps the best thing, the worst of housing seems to be behind us. >>...
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small businesses are so important to the vitalness of the american economy. they employ almost half the private workforce and if you look at the last 20 years, small businesses have created almost two-thirds of the new jobs in the country. >> they create jobs, but am i going to get a deal there for such price sensitive consumers out there who are looking for a bargain every single time they buy something, can a small business, a small retailer, provide that kind of a deal? >> we think they absolutely can and do compete. they're competing every day against big box retailers and everyone else who's in the market trying to do business on the holiday period. small businesses are unique. they're creative to entrepreneurs. they certainly do sales, promotions, coupons, they do gift with purchase. they put together a whole package to be competitive, of course, but they also provide local service. they provide strong value to the communities they operate in. we all know that how important main street is to the vitality of local communities. they do all of the above an
small businesses are so important to the vitalness of the american economy. they employ almost half the private workforce and if you look at the last 20 years, small businesses have created almost two-thirds of the new jobs in the country. >> they create jobs, but am i going to get a deal there for such price sensitive consumers out there who are looking for a bargain every single time they buy something, can a small business, a small retailer, provide that kind of a deal? >> we...
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i think the global economy's -- the emerging market economy will pick us all up if we do get picked up. david: they hope the fed picks them up more than they've already done so. there's worry signs there's no end to the printing. john williams in which he told the journal, quote, "in terms of how far you can go, i don't think we're anywhere near that kind of limit." it seems like they are going the whole distance. >> absolutely. look, this is not -- this has been coming on for a long time. you're a student of history, going back to the roman empire, germany, england, any major, you know, economic entity in the world. david: look how the runs ended. forgive me for interrupted, but look how they ended. super inflation is usually the way these things end. >> well, we hope eventually, right now, a dysfunctional government in europe, united states as well as in japan, and it's too tempting to print money to solve all of these things, and as long as the markets are willing to, you know, absorb the printing of the capital, things will continue to move forward. anything that looks like you're
i think the global economy's -- the emerging market economy will pick us all up if we do get picked up. david: they hope the fed picks them up more than they've already done so. there's worry signs there's no end to the printing. john williams in which he told the journal, quote, "in terms of how far you can go, i don't think we're anywhere near that kind of limit." it seems like they are going the whole distance. >> absolutely. look, this is not -- this has been coming on for a...
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economy. i thinkist the moguling being throw in front of it, our self-inflected issues, you know, last time around we sequestration. are we going to have sequestration 2? of course we'll put a band-aid, but we need leverage to have reform predicated to surrender on the band-aid. >>> we've got to go, guys. i've got to go with this. we've got to move on. this is the last hour of trading, so we've got to move here. thank you for your thoughts today. steve, thank you, you're voting on a committee of politicians. i find hope in that somehow. >> yeah. you're in the hopeful camp. >> hoping at the last moment they will do the right thing. >> was that a pig that just flew by? the market is slowly coming off the lows. >> instead the last time the markets closed in positive territory on black friday was 2008. let's see if we can do it again. we have full team coverage of where it's shaping up to be a jolly holiday season. >> our luxury or discount retailers. >>> and walmart workers threatening to walk of
economy. i thinkist the moguling being throw in front of it, our self-inflected issues, you know, last time around we sequestration. are we going to have sequestration 2? of course we'll put a band-aid, but we need leverage to have reform predicated to surrender on the band-aid. >>> we've got to go, guys. i've got to go with this. we've got to move on. this is the last hour of trading, so we've got to move here. thank you for your thoughts today. steve, thank you, you're voting on a...
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economy. a big discussion many ceos are telling us the fiscal cliff isn't passing uncertainty, makes them nervous. what will my tax rate look like next year? what will regulation look like? what will regulation look like? do you have the same concerns? >> i have the same concerns and we have to do something. it is not an option. this is not republican or democrat problem but an american problem and israel. we don't do something about this before december, that is when you will start toosee consumers start to question leadership in washington. i don't think that is the case. i think our leadership in washington is focused -- we know who's going to be running the country and who is going to be running the house. now that that is behind us everyone can focus on reaching across the aisle and compromise and have to make progress on this fiscal cliff. i think that is important for business right now. the consumer has not focused on this but they will if we don't address it. i am confident we are goi
economy. a big discussion many ceos are telling us the fiscal cliff isn't passing uncertainty, makes them nervous. what will my tax rate look like next year? what will regulation look like? what will regulation look like? do you have the same concerns? >> i have the same concerns and we have to do something. it is not an option. this is not republican or democrat problem but an american problem and israel. we don't do something about this before december, that is when you will start...
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it's already starting to impact the economy. whether it impacts consumers -- and we'll find out today, by the way, in terms of thanksgiving and what's that meant, whether consumers are coming out or not -- but thoorz the bigger issue that manufacturing has already started to slow down. people are starting to worry. it may end up in the economic numbers already, just the fact that we're having this debate. and then come january 1st, do we go over? what does that mean? is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal and what does that deal look like? >> a lot of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i think the fever is starting to break. >> absolutely. you're going to see it, i th
it's already starting to impact the economy. whether it impacts consumers -- and we'll find out today, by the way, in terms of thanksgiving and what's that meant, whether consumers are coming out or not -- but thoorz the bigger issue that manufacturing has already started to slow down. people are starting to worry. it may end up in the economic numbers already, just the fact that we're having this debate. and then come january 1st, do we go over? what does that mean? is it the fiscal cliff? or...
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to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. on the other side, conservatives say it's not a game changer because from unions, this is really nothing new. >> the fact they are publicly saying what they have been privately saying is helpful the american people understand where obama's intransigence comes from, but nothing's changed. >> they negotiated details this week of the grand fiscal cliff compromise that democrats and republicans hope to reach. lawmakers back in town neex week, and there's a meeting loosely scheduled in the white house against top democrats and republicans in congress with president obama. dagen? dagen: thank you so much, happy thanksgiving, my man. down in washington, d.c., but here in studio with my, monica crowely, author of "what the bleep just happened?" how do they have influence over the white house and represent in terms of the private job market a tiny sliver of employees in the country? >> it really is incredible. we've seen a hemorrhaging away from the many, many p
to listen to the will of the voters and focus on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. on the other side, conservatives say it's not a game changer because from unions, this is really nothing new. >> the fact they are publicly saying what they have been privately saying is helpful the american people understand where obama's intransigence comes from, but nothing's changed. >> they negotiated details this week of the grand fiscal...
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. >>> the holiday consumer giving the economy a big lift or will fears about the fiscal cliff get in the way? a roundtable discussion is up next. you saw sears and kmart president kick off the open at the nasdaq. can his store ring up strong sales this holiday season? we'll head to break and look at this morning's early movers on wall street led by best buy up 1.6%. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's inve
. >>> the holiday consumer giving the economy a big lift or will fears about the fiscal cliff get in the way? a roundtable discussion is up next. you saw sears and kmart president kick off the open at the nasdaq. can his store ring up strong sales this holiday season? we'll head to break and look at this morning's early movers on wall street led by best buy up 1.6%. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as...
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companies that used to sound out mountains of catalogs are being stung by higher postage costs and the weak economy. a third fewer catalogs are being mailed out compared to just four years ago. but still, about 12 billion a year will be going out. >> less junk mail could be a good thing, actually. >>> as shoppers head out this weekend, we're learning the mannequins you see may not be your average dummy. some mannequins, in fact, will be watching you. that's because they're equipped with a tiny camera that's embedded in their eye. they can actually collect information about shoppers' habits. but also, scope out shoplifters by spying on customers right there at eye level. the italian company that makes them is now working on technology that enables them to eavesdrop, as well. >> you're going to see a lot of people walking up to mannequins and looking them in the eye wondering if there's a camera inside. >> big brother's here, folks. >>> when we come back, the spirit of the season. the hurricane sandy survivors, getting the royal treatment at a thanksgiving tradition. >>> and the sounds of the season
companies that used to sound out mountains of catalogs are being stung by higher postage costs and the weak economy. a third fewer catalogs are being mailed out compared to just four years ago. but still, about 12 billion a year will be going out. >> less junk mail could be a good thing, actually. >>> as shoppers head out this weekend, we're learning the mannequins you see may not be your average dummy. some mannequins, in fact, will be watching you. that's because they're...
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his e-book, "the amazon economy," is out next week. thanks for being with us. >> good to be here. >> sreenivasan: so help us understand, why are these retailers doing this? why is it so important? >> this holiday season we're going to see consumers who are still pretty cautious and as a result of that retailers are just a little bit desperate. these early openings are all about trying to grab the attention of consumers as soon as they can and grab a few of those dollars because overall the holiday season it may be that the shopping pie doesn't grow that much. so these retailers want to grab their own slice as soon as they possibly can. >> sreenivasan: so wal-mart was one of the big stores to do so. they were already opening at midnight. why push it into thanksgiving day itself? >> the competition among the retailers and i think they're inspiring each other to move it earlier and earlier because as people are going to be queuing up perhaps they want to be outside the store that's going to open first. so this cream phenomena is has set i
his e-book, "the amazon economy," is out next week. thanks for being with us. >> good to be here. >> sreenivasan: so help us understand, why are these retailers doing this? why is it so important? >> this holiday season we're going to see consumers who are still pretty cautious and as a result of that retailers are just a little bit desperate. these early openings are all about trying to grab the attention of consumers as soon as they can and grab a few of those...
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economy today. so we're turning to one of the most seasoned and respected voices on wall street for help. we have dana telsey. she is our guest host for the next three hours. andrew, i'll send it over to you. >> we begin with a visit to toyland and here is toys r us. it opened its doors at 8:00 last night. and we have toys r us ceo joining us right now from the company's flagship store in times square. good morning. >> good morning. >> so i read a report you you had a big line. what's it been like all evening? >> it's been great. we did have a big line. we're at 44th and broadway.line went all the the way to 45th street and then down 45th all the way to 6th avenue. it was huge. people came in in a real celebratory mood. people ate ice cream, relaxed with their kids. i've never seen a black friday like this before, but 8:00 hour worked really well for families. >> let's talk about sales. how did it go overnight? >> we're just starting. this is 5:00 a.m. on black friday morning. we're really just star
economy today. so we're turning to one of the most seasoned and respected voices on wall street for help. we have dana telsey. she is our guest host for the next three hours. andrew, i'll send it over to you. >> we begin with a visit to toyland and here is toys r us. it opened its doors at 8:00 last night. and we have toys r us ceo joining us right now from the company's flagship store in times square. good morning. >> good morning. >> so i read a report you you had a big...
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one then we all agree on the state of the economy, that the technology companies in silicon valley and seattle, increasingly in new york are the kind of envy of the world and one key reason for that i think is that the internal structure of these corporations was much more pure network way it worked. much lies hierachical, the decision making in silicon valley firm is much less about the boss at top and much more empowering local employees to make decisions on their own, to innovate on their own. they're much more egalitarian the way they share the proceed. a lot of these company have extensive stock options plans where the lowest level employee participates when the company goes public and so on. all that stuff was new, when the first silicon valley, fairchild and intel founded in '60s and early '70s. they had this ethos where they were founded by a bunch engineers. they didn't have a lot of executive perks an everyone should participate in the production of the company. that practice i think is part of why the silicon valley and tech sector has been so successful. one of the cases be
one then we all agree on the state of the economy, that the technology companies in silicon valley and seattle, increasingly in new york are the kind of envy of the world and one key reason for that i think is that the internal structure of these corporations was much more pure network way it worked. much lies hierachical, the decision making in silicon valley firm is much less about the boss at top and much more empowering local employees to make decisions on their own, to innovate on their...
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our economy is becoming more complex. you need a higher level of school especially with respect to the information revolution. i used to be a mechanic. i loved taking carburetors apart. people do not know what a carburetor is these days. you have to be skilled to handle that kind of machine and increasingly, those are the jobs that will be available for american youngsters, not stitching to pieces of cloth is together. >> are we better able to match of the requirements of military and civilian life? if you're a military-licensed truck driver, that license does not transfer to the civilian side of things. >> no, it does not. that is one of the examples of places where an individual has relevant experience that ought to really into licensing to operate in a field. maybe there should be tweaking for that state or locality requirements. we do not do that well right now. many of the skills service members come out with are not leveraged like they could and should be. there are a lot of high-tech information technology skills.
our economy is becoming more complex. you need a higher level of school especially with respect to the information revolution. i used to be a mechanic. i loved taking carburetors apart. people do not know what a carburetor is these days. you have to be skilled to handle that kind of machine and increasingly, those are the jobs that will be available for american youngsters, not stitching to pieces of cloth is together. >> are we better able to match of the requirements of military and...
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and the global economy, do we require more legislation or should it come from the private sector? or should it be a combination? how do we deal with this downstream? >> it has to be a public-private partnership. government cannot do it all. the government's most important goal is to make sure we have gi bill activities and have funded all of our programs. then the government has to reach out and help communities to set up systems that will help these veterans. states should get involved and states are involved. cities should be involved. it's a public-private partnership. let's hope we don't get in another conflict in five or 10 years. >[applause] >> stan, you have been teaching leadership at yale, and it's very popular. there was a time when no returning military officer could gone on to an ivy league campus and taught a course in leadership. moreover, now returning rotc to the campus at ivy league schools. are we finally healing the wounds of vietnam and that time and closing the gap between those who served and those who did not, by having these kinds of things? >> i think we a
and the global economy, do we require more legislation or should it come from the private sector? or should it be a combination? how do we deal with this downstream? >> it has to be a public-private partnership. government cannot do it all. the government's most important goal is to make sure we have gi bill activities and have funded all of our programs. then the government has to reach out and help communities to set up systems that will help these veterans. states should get involved...
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wanted to really put attention to small businesses, the importance that small businesses have to our economy, creating half of the private work force and two-thirds of the net new jobs. >> karen, basic question but an important one for consumers going out today. what is a small business? if i'm out shopping, how do i identify it? >> as you walk down main street in the community, many people have people with whom they have relations. it might abdely, a cupcake shop but you can walk in that business on small business start, and they have been preparing for months now. at the small business administration we've had a web page, they have come on and gotten tips so you might see a sign in the door. you might see a shop local. you might see them right out on the corner saying please help us celebrate small business saturday. and we are saying thank you to those people in our community who have done so much. they create jobs, and they support the little league and the girl scouts, so right on saturday i'm going to be walking down main street inri roslindal in boston saying thank you to the communit
wanted to really put attention to small businesses, the importance that small businesses have to our economy, creating half of the private work force and two-thirds of the net new jobs. >> karen, basic question but an important one for consumers going out today. what is a small business? if i'm out shopping, how do i identify it? >> as you walk down main street in the community, many people have people with whom they have relations. it might abdely, a cupcake shop but you can walk...